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Citigroup Misses on Q4 Revenue, Shares Fall

Published 01/14/2019, 08:02 AM
Updated 01/14/2019, 08:13 AM
© Reuters.

Investing.com – Shares in Citigroup (NYSE:C) fell in pre-market trading Monday after the bank reported lower-than-expected revenue for the fourth quarter, as market volatility hit its fixed income division.

The third largest U.S. bank by assets reported revenue of $17.1 billion, compared to expectations for $17.5 billion. Adjusted earnings per share was $1.61, beating expectations for $1.55.

“A volatile fourth quarter impacted some of our market sensitive businesses, particularly fixed income,” Chief Executive Officer Michael Corbat said in the earnings release.

At 8:13 AM ET (13:13 GMT), Citigroup shares lost 1.22% to trade at $56.00.

For the year, Citigroup shares are up 8.89%.

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